ServiceNow (NYSE:NOW) Price Target Increased to $1,100.00 by Analysts at Jefferies Financial Group

ServiceNow (NYSE:NOW) had its target price boosted by Jefferies Financial Group from $900.00 to $1,100.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the information technology services provider’s stock.

Several other brokerages have also commented on NOW. Deutsche Bank Aktiengesellschaft raised their price objective on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Robert W. Baird lifted their price target on shares of ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Canaccord Genuity Group restated a “buy” rating and issued a $835.00 price objective on shares of ServiceNow in a report on Tuesday, July 23rd. Royal Bank of Canada lifted their target price on shares of ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Truist Financial upped their price target on ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $887.73.

ServiceNow Price Performance

Shares of NYSE NOW opened at $918.87 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow has a 1 year low of $527.24 and a 1 year high of $949.59. The company’s 50-day moving average is $869.98 and its 200 day moving average is $789.79. The stock has a market capitalization of $188.37 billion, a P/E ratio of 98.27, a P/E/G ratio of 5.63 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the business earned $0.77 EPS. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, sell-side analysts expect that ServiceNow will post 6.78 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In related news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Paul John Smith sold 187 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the transaction, the insider now owns 3,779 shares of the company’s stock, valued at $3,006,496.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock worth $5,608,936 in the last three months. 0.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ServiceNow

Hedge funds have recently modified their holdings of the company. Swedbank AB bought a new position in ServiceNow in the 1st quarter worth $897,908,000. Global Assets Advisory LLC bought a new position in shares of ServiceNow in the first quarter worth about $403,034,000. Vanguard Group Inc. grew its position in shares of ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after purchasing an additional 331,797 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in ServiceNow during the 2nd quarter valued at approximately $218,786,000. Finally, Acadian Asset Management LLC lifted its holdings in ServiceNow by 233.4% in the 1st quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock worth $295,198,000 after purchasing an additional 271,073 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Company Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.